I disagree with this reasoning, even though it may be speculative and not the actual case.
First, moderators already have other powers that could be misused (annulling games, banning players, censoring players, etc.), so simply having this one type of power denied does not remove the possibility of them misusing or being accused of misusing significant powers, nor does it prevent them from being harassed for their current actions/powers.
Second, if a moderator was actually misusing a power, I hope that they would be accused (through the appropriate channels) and properly dealt with. Any individual is merely human and potentially fallible, hence an organization needs to have a system of oversight, appeals, and remedies to be resilient to bad behavior.
Who would be the right person ask and to suggest a policy change to?